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SimonW comments on Why you should consider buying Bitcoin right now (Jan 2015) if you have high risk tolerance - Less Wrong Discussion
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I thought Bitcoins were a proof of work thing, with a limited total number, so the rate of mining changes over time and in response to the price, or has that changed?
When I lasted looked mining on your own electricity bill was madness, but botnets were being used to mine, and had sufficient benefits in being easy to convert that the botnet operators were preferring bitcoin mining over riskier endeavours.
The rewards of mining half every 4 years or so, and this can be sped up some if the total network hashrate doubles up a lot, but that's about it.
A little ambiguous. The total return to all miners halves every 4 years or so. If the total investment in mining equipment is doubling every 4 years, then the return to unit investment in mining will decrease by 75% every 4 years. Both the total rate of BTC creation and the increasing investment chasing that creation are decreasing the return to the mining investment.